March 2025 Report
Baltimore Metro
Baltimore | March 2025
Home Demand Index
The Home Demand Index (HDI) for Baltimore stands at 75 this report period, reflecting an increase from last month’s 68 but a decline from last year’s 83. This upward movement suggests a strengthening in buyer activity compared to the previous month, though demand remains lower than the same period last year. Market conditions continue to be influenced by affordability constraints and inventory challenges.
Entry-level single-family homes have experienced a modest increase in demand, driven by affordability constraints and limited inventory. Mid-market single-family homes saw a 10% rise in demand, suggesting improved buyer confidence. Luxury single-family homes exhibited the strongest growth, with a 31% increase, possibly fueled by shifting investment preferences. Entry-level condos have maintained steady demand, with competition persisting due to tight supply. Luxury condos continue to see heightened demand, reinforcing the overall trend of increased buyer activity across property types.
Monthly Statistics for March 2025
Home Demand
Index
Index
75
(Slow)
Home Demand Index
from prior month
from prior month
68
Home Demand Index
from prior year
from prior year
83
Index change
from prior month
from prior month
10.3%
Index change from
same time last year
same time last year
-9.6%
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | March 2025
Home Demand Index | Historical Year-over-Year Comparison
The year-over-year comparison for Baltimore’s HDI reflects a decline from 83 last year to 75 in this report period. This decrease indicates a softening in buyer demand compared to the previous year, though the recent month-over-month increase suggests a potential stabilization. Market activity remains shaped by affordability concerns and inventory fluctuations.
Home Demand Index
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | March 2025
Home Demand Map
Buyer interest in Baltimore City and Howard County has improved from limited to slow demand, indicating increased market activity. Meanwhile, Harford County and Baltimore County remain in the slow demand category. Anne Arundel County and Carroll County continue to experience limited demand, reflecting sluggish buyer engagement. Coastal areas, such as DelMar Coastal, have maintained steady demand, demonstrating resilience in this region. The Maryland Eastern Shore remains in the slow demand category.
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | March 2025
Demand and Inventory by Home Type
Entry-level single-family homes have experienced a modest increase in demand, driven by affordability constraints and limited inventory. Mid-market single-family homes saw a 10% rise in demand, suggesting improved buyer confidence. Luxury single-family homes exhibited the strongest growth, with a 31% increase, possibly fueled by shifting investment preferences. Entry-level condos have maintained steady demand, with competition persisting due to tight supply. Luxury condos continue to see heightened demand, reinforcing the overall trend of increased buyer activity across property types.
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | March 2025
Single Family Home Below $359k
The entry-level single-family home index rose to 68 this month, up from 63 last month but still below last year’s 76. This month-over-month improvement indicates a modest increase in buyer interest, potentially driven by seasonal factors. However, the year-over-year decline suggests ongoing affordability constraints limiting broader market growth.
Monthly Statistics for Single Family Home Below $359k
Home Demand
Index
Index
68
(Limited)
Home Demand Index
from prior month
from prior month
63
Home Demand Index
from prior year
from prior year
76
Months of
inventory
inventory
2.4
Average daily inventory last month
474
Inventory sold
last month
last month
199
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | March 2025
Single Family Home $359k - $815k
The mid-range single-family home index increased to 67, rising from last month’s 61 but remaining below last year’s 78. This month-over-month growth indicates strengthening buyer demand, possibly due to seasonal factors or improved affordability. Despite this, the year-over-year decline highlights ongoing market headwinds, particularly in affordability and inventory constraints.
Monthly Statistics for Single Family Home $359k - $815k
Home Demand
Index
Index
67
(Limited)
Home Demand Index
from prior month
from prior month
61
Home Demand Index
from prior year
from prior year
78
Months of
Inventory
Inventory
2
Average daily inventory last month
892
Inventory sold
last month
last month
455
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | March 2025
Single Family Home Above $815k
The index for luxury single-family homes climbed to 63, a significant increase from last month’s 48 but still trailing last year’s 85. This rebound suggests renewed buyer interest in the high-end market, potentially driven by seasonal factors or shifting economic conditions. However, the year-over-year decline indicates that broader affordability and economic uncertainty continue to impact demand in this segment.
Monthly Statistics for Single Family Home Above $815k
Home Demand
Index
Index
63
(Limited)
Home Demand Index
from prior month
from prior month
48
Home Demand Index
from prior year
from prior year
85
Months of
Inventory
Inventory
3.6
Average daily inventory last month
270
Inventory sold
last month
last month
74
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | March 2025
Condo Below $404k
The entry-level condo index stands at 104, showing a month-over-month increase from last month’s 94 and remaining level with last year’s 104. This suggests stable demand for entry-level condos, potentially driven by affordability and investor interest. The steady year-over-year performance indicates continued resilience in this segment despite broader market fluctuations.
Monthly Statistics for Condo Below $404k
Home Demand
Index
Index
104
(Steady)
Home Demand Index
from prior month
from prior month
94
Home Demand Index
from prior year
from prior year
104
Months of
Inventory
Inventory
3.3
Average daily inventory last month
363
Inventory sold
last month
last month
111
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | March 2025
Condo Above $404k
The luxury condo index surged to 156, rising sharply from last month’s 120 and up from last year’s 114. This strong month-over-month and year-over-year growth suggests increased demand in the high-end condo segment, possibly driven by renewed investor confidence or shifting buyer preferences. The luxury condo market continues to show resilience, outperforming other segments.
Monthly Statistics for Condo Above $404k
Home Demand
Index
Index
156
(High)
Home Demand Index
from prior month
from prior month
120
Home Demand Index
from prior year
from prior year
114
Months of
Inventory
Inventory
6.8
Average daily inventory last month
109
Inventory sold
last month
last month
16
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | March 2025
Townhouse/Rowhouse/Twin All prices
Townhouse/
Rowhouse/Twin
All prices
The index for townhouses, rowhouses, and twins stands at 84, rising from last month’s 78 but slightly below last year’s 88. This month-over-month increase reflects growing buyer interest in attached homes, potentially due to affordability and location benefits. However, the slight year-over-year decline suggests that broader economic conditions continue to impact demand in this segment.
Monthly Statistics for Townhouse/Rowhouse/TwinAll prices
Home Demand
Index
Index
84
(Slow)
Home Demand Index
from prior month
from prior month
78
Home Demand Index
from prior year
from prior year
88
Months of
Inventory
Inventory
3.1
Average daily inventory last month
2,192
Inventory sold
last month
last month
697
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Note
1. This report is generated with data from the following counties:
- Baltimore Metro – Anne Arundel, MD; Baltimore City, MD; Baltimore, MD; Carroll, MD; Harford, MD; Howard, MD;
- DelMar Coastal – Somerset, MD; Sussex, DE; Wicomico, MD; Worcester, MD;
- Maryland Eastern Shore – Caroline, MD; Cecil, MD; Dorchester, MD; Kent, MD; Queen Annes, MD; Talbot, MD;
2. This report is for the March 2025 period with data collected from the previous month.
Released: March 11, 2025
Reference ID: 2208
Baltimore | March 2025
Home Demand Map (Zip Codes)
Buyer interest in Baltimore City and Howard County has improved from limited to slow demand, indicating increased market activity. Meanwhile, Harford County and Baltimore County remain in the slow demand category. Anne Arundel County and Carroll County continue to experience limited demand, reflecting sluggish buyer engagement. Coastal areas, such as DelMar Coastal, have maintained steady demand, demonstrating resilience in this region. The Maryland Eastern Shore remains in the slow demand category.
Bright MLS | T3 Home Demand Index
www.homedemandindex.com